Thursday, September 2, 2010
Reading Between The Lines: How Sallie Mae's "Forward Looking" Report May SCREW US, And In A Big Way
Hooray! Sallie Mae isn't doing well. I suppose when you're part of fraud and usury, you end up struggling in the end. Although there is plenty of evidence that demonstrates that the value of their stocks is falling, and perhaps precipitously, we shouldn't pop the champagne just yet. Of course it's great to read things about their failings. For instance, Reggie Middleton said it well when stating that Sallie Mae has dug itself into a hole. Granted this report was put out in March 2010, but who's really following this sort of news? That is to say, an article about Sallie Mae digging itself into a hole written in March of 2010 may seem like "old news," but it is something worth referencing.
I've been following and researching the relationship between Sallie Mae (among other student lenders) and Wall Street for well over a year now. It's funny how those who supposedly cover the student lending crisis have paid no attention whatsoever to this obvious connection. In fact, when I was interviewed by Lawrence Delevigne, who is a reporter at the Business Insider, in October of 2009, I made it clear that these entities were linked, stating: